FOX Business ran two segments last week with regard to investing in the single-family asset class. MACK Companies CEO and president James McClelland and Eric Workman, MACK Companies VP of Sales and Marketing were both interviewed. Fox Business wanted to shed the light on the increased interest in single-family home investments. Who better to talk to than MACK? Mr. McClelland spoke to the immense desire for volume from Wall Street. Mr. Workman had this to add ”Institutional investors have come into this market in a big way,” and that they either they want to enter into this line of work like MACK or merely want to acquire the asset.
Some reports indicate more than 3.5 million single-family homes are being rented in the U.S. That number is likely to grow as demand from renters increases and the stock of foreclosed homes continues to surge. Mary Ellen Polmolik, writing in the Chicago Tribune, recently noted the trend in her column: “Local and out-of-town investors are bumping into each other at the doorstep as they snap up homes for rehab, resale, or increasingly to convert them into rental properties,”